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Bullish Price Sequence

MNI (Sydney)

The People's Bank of China (PBOC) injected CNY20 billion via 7-day reverse repos with the rate unchanged on Wednesday. This resulted in a net drain of CNY80 billion given the maturity of CNY100 billion of reverse repos today, according to Wind Information.

  • The operation aims to maintain stable liquidity before the Chinese New Year and fiscal spending increases in the days approaching the holiday, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) decreased to 2.2134% at 09:23 am local time from 2.4712% at Tuesday's close.
  • The CFETS-NEX money-market sentiment index closed at 41 on Tuesday vs 36 on Monday. A higher index indicates increased market expectations for tighter liquidity.
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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